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1431 charts

Higher energy import prices have eroded the euro area’s terms of trade

Estimation results of the impact of an import price shock on euro area real GDP

Estimation results of the impact of an import price shock on euro area consumer price inflation

The rise in energy prices has been steep, and the markets expect prices to remain high

Production and demand expectations for the next few months down from previous year but still far short of crisis-time levels

Fiscal sustainability risks had already increased significantly before the energy crisis

Annual wage growth in negotiated settlements has so far remained fairly moderate

High inflation is expected to continue for longer than previously thought

Uncertainty over the inflation rate for 2023 has grown since the spring

Unexpected developments in the economy have been evident as major forecast errors in recent forecasts

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